How the Town of Widgeton Beat Income Inequality
In the middle of proverbial nowhere, there is a town called Widgeton. It was so named because the town grew up around its only factory, headquarters of a family-owned business which made widgets. Almost everyone in town either worked directly for the Widget Company or was otherwise dependent for their income on the payroll generated by the Widget Company. Through the entire twentieth century, the Widget Company made the best widgets in the world and was concomitantly rewarded. The company was profitable and the small Town of Widgeton thrived. The Widget Company was a family business owned entirely by…